cdu likelyup soon in senate inquiry into asic, page-152

Buddy134,

It is true that the buyback enabled shares to be bought back at low prices and to be reissued at higher prices.

An unusual strategy for a junior explorer but tactically very sound .

Had it not been done CuDeco would have more shares on issue and, as you are a stated large shareholder, you can appreciate the better position you are now in.

You complain about the share price but have a look at the share price positions of companies across the mining sector and where they used to be.

It is not a pretty picture and will remain so particularly for the junior explorers as money is tight for that sector and, in my opinion, will remain so for the foreseeable future.

That is the reality of the situation. Holders of shares in our neighbours QMN,GBZ and AOH would be well aware of what has happened to their share prices.

None of these companies have managed to succeed in getting any of their projects at Cloncurry to mining as CuDeco is doing.

Shareholders in AOH were unfortunate in trying to get away their Roseby project when Xstrata pulled out. Those people who thought it was a done deal and purchased on that basis would rue taking their decision.

Even if QMN, GBZ or AOH were today to announce their intention to mine at Cloncurry, it would be a long time before they got to actually mine.

CuDeco is mining right now.